Shilpa Medicare shines as its arm signs strategic development partnership with mAbTree Biologics AG
Shilpa Medicare is currently trading at Rs. 701.15, up by 70.95 points or 11.26% from its previous closing of Rs. 630.20 on the BSE.
The scrip opened at Rs. 649.95 and has touched a high and low of Rs. 710.00 and Rs. 628.90 respectively. So far 28865 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 959.95 on 18-Sep-2024 and a 52 week low of Rs. 419.10 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 710.00 and Rs. 625.15 respectively. The current market cap of the company is Rs. 6856.61 crore.
The promoters holding in the company stood at 44.23%, while Institutions and Non-Institutions held 18.17% and 37.60% respectively.
mAbTree Biologics AG has signed an exclusive co-development and commercialization partnership with Shilpa Biologicals, a fully owned subsidiary of Shilpa Medicare, for its novel biologic asset (a checkpoint inhibitor) for immune-oncological applications.
Under the terms of the strategic agreement, Shilpa Biologicals will support both development including clinical studies as well as long-term commercial supply with GMP manufacturing. Additionally, Shilpa Group will provide mAbTree access to India and several global markets through its extensive partner network.
This program aims to develop a fully human monoclonal antibody against a novel immune checkpoint protein that enables T cell activation and generation of strong immune responses against tumours akin to the well-established PD-1/PD-L1 blockade. This approach has the potential to convert cold tumours (poor immune cell infiltration) hot (good immune infiltration), suppress tumour metastasis and make the refractory tumors susceptible to chemotherapy as well and is applicable in various cancers, including lung cancer, head and neck squamous cell carcinoma, and hematologic malignancies.
Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
